Gold prices fell in Pakistan on Tuesday, following a similar trend in the global market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold declined by Rs1,600 per tola, bringing it down to Rs354,700. This marks a sharp drop from Monday’s price of Rs356,300.
Similarly, the price of 10 grams of gold also saw a reduction. It fell by Rs1,372, reaching Rs304,098. The decline comes as the international price of gold also dropped by $16 per ounce, settling at $3,320 with a $20 premium, APGJSA reported.
This marks the second consecutive day of losses for gold, though Monday’s drop was only Rs100 per tola. Despite the slide in gold prices, silver remained stable. The price of silver per tola stayed unchanged at Rs3,963.
The downward trend in gold prices may offer temporary relief to buyers, especially as local demand remains strong. However, international market movements and currency fluctuations will continue to influence rates.
Jewellers and traders are closely watching the global market for further signals. Many anticipate volatility as investors adjust positions amid changing interest rate expectations and geopolitical concerns.